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Tag: CBN
CBN Penalizes Banks with N150m Fine for Illicit Naira Mint Transactions
The Central Bank of Nigeria (CBN) has imposed a ₦150 million penalty per branch on Deposit Money Banks (DMBs) found engaging in the illegal flow of freshly minted Naira notes…
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Bank Workers Blame CBN Naira Shortage
The Association of Senior Staff of Banks, Insurance, and Financial Institutions has attributed the worsening cash shortage across the country to the Central Bank of Nigeria’s inability to meet the…
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Lawmakers Order CBN to Ease Cash Crunch Hardship
The House of Representatives has asked the Central Bank of Nigeria (CBN) to urgently address the lingering scarcity of naira notes, According to the lawmakers, the issue has imposed significant…
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AFCON allowances, bonuses not delayed by CBN, says NFF
Nigerian Football Federation boss, Ibrahim Gusau has blamed budgetary constraints for the failure to pay up outstanding allowances and bonuses to the Super Eagles. At a meeting with the Super…
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Oil Imports Drop by 35% in Q2, 2024 – CBN
Nigeria’s oil imports dropped by 35 per cent in the second quarter of 2024, amounting to $2.79bn, down from $4.31bn in the previous quarter. This is according to the quarterly…
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CBN will deploy necessary tools to battle inflation – Cardoso
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has affirmed that the Federal Government is prepared to deploy all tools to rein in inflation. The CBN, Cardoso said, is prepared…
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CBN To Nigerians: No deadline for circulation of old Naira notes amid December 31 rumours
The Central Bank of Nigeria (CBN) has dismissed reports that the old N200, N500, and N1,000 banknotes will cease to be legal tender by December 31, 2024. In a statement…
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Banks’ Deposits With CBN Now N3.42trn – Report Reveals
The deposits of banks with the Central Bank of Nigeria hit a weekly high of N3.42tn at the end of last week. This followed the announcement of the operationalisation of…
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Senate postpones public hearing on CBN, NDIC Acts Amendment Bills
The Senate Committee on Banking, Insurance and other Financial Institutions on Tuesday postponed its public hearing on the Central Bank of Nigeria (CBN) Act (Amendment) Bill and the Nigerian Deposit…
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UPDATE : CBN Raises Interest Rate To 26.25%
To combat growing inflation, the Central Bank of Nigeria's Monetary Policy Committee hiked interest rates by 150 basis points, to 26.25 per cent from 24.75 per cent in March. …
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